SkinnyPop Maker Amplify's Stock Opens, And Stays Below, Its IPO Price

Amplify Snack Brands Inc.'s stock got off to a rough start, as it extended losses below the initial public offering price on its debut on the NYSE. The maker of SkinnyPop popcorn's IPO priced late Tuesday at $18 a share, above the expected range of $14 to $16, which usually indicates strong demand and an upbeat first-day performance. But the stock opened at $17, or 5.6% below the IPO price, and was last down 8.6% at $16.45. The intraday high was $17.20. Still, the company raised $270 million by selling 15 million shares at $18 each, but all of the proceeds goes to selling stockholders.